Press Release

Wells REIT II Signs Verizon to Lease Extension Near Dallas

Telecom Giant Extends Lease for Five More Years in Las Colinas

NORCROSS, Ga. (Aug. 15, 2007) - Wells Real Estate Investment Trust II has signed Verizon to an early lease extension for more than a quarter-million square feet, at its metro Dallas office building in Irving, Texas.

Verizon Corporate Services Group Inc. occupies the entire 253,000-square-foot, Class-A building at 919 Hidden Ridge. The telecommunications giant has now extended its lease, originally set to expire in 2008, for an additional five years.

The property is located in the desirable Las Colinas submarket, near the John Carpenter Freeway.

"This is a sizeable transaction for Las Colinas, and an important tenant in our portfolio," said Patti Morris, senior regional director, Asset Management, for Wells Real Estate Funds. "When we acquired the property in 2005, a priority was earning Verizon's continued business. Verizon is one of the nation's top brands, and we are thrilled to continue serving their real estate needs in Dallas."

Wells was represented internally by Jerry Banks, senior vice president, Asset Management, with Jon Altschuler and Rebecca Smith of Stream Realty. Shelly Christenson of Staubach represented Verizon.

Verizon Corporate Services Group is a back-office and shared-services division of Verizon Communications Inc., which is rated "A" by Standard & Poor's.

Wells REIT II is a public, nontraded REIT specializing in Class-A office properties. Wells REIT II owns 62 buildings in 19 states (including Washington, D.C.), totaling approximately $3 billion (based on purchase price) and covering more than 15 million square feet. Across the portfolio, Wells REIT II properties are 98 percent leased.

Wells REIT II is managed by Wells Real Estate Funds, a national real estate investment company based in suburban Atlanta. Since the company's founding in 1984, Wells has invested more than $10 billion in real estate for more than 200,000 investors. Wells funds include REITs, mutual funds and other commercial real estate investment vehicles. For more information, see www.wellsref.com.

This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements can generally be identified by our use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," or other similar words. Readers of this press release should be aware that there are various factors that could cause actual results to differ materially from any forward-looking statements made in this release. Factors that could cause or contribute to such differences include, but are not limited to, changes in general economic and business conditions, industry trends, changes in government rules and regulations (including changes in tax laws), and increases in interest rates. Accordingly, readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Wells will not always revise dated, publicly released, forward-looking statements whether as a result of new information, future events or otherwise. This is neither an offer nor a solicitation to purchase securities. Such an offer can be made only by prospectus. For a prospectus, contact Wells Investment Securities, Inc., 6200 The Corners Pkwy., Norcross, Ga. 30092 (tel. 800-448-1010). SEC filings: www.wellsref.com/investmentproducts/reit/secfilings.html.